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How Much Trust Should We have in Economic Data?
We are, as they say, live:
How Much Trust Should We have in Economic Data?: Perhaps it’s not surprising
that a political party unable to come to grips with the scientific evidence on
global warming would extend its claim that the evidence is politically
manipulated to other inconvenient truths. But the attack on the Bureau of Labor Statistics
by some Republicans last Friday over its report of an improvement in the
unemployment rate was still a bit of a shock.
The charge that employees at the BLS manipulated the employment numbers to favor
Obama is nonsense as anyone familiar with the calculation of these numbers can
attest, but it does bring up a good question. What factors should be considered
when assessing the reliability of economic data? …[continue
reading]…
2012-10-09 11:41:50
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